OneMove Capital Releases Comprehensive Plan, Providing Sylogist Shareholders Opportunity to Avoid the Failed Status Quo Oversight of Incumbent Board that has Resulted in 75% Value Destruction
Presents Detailed and Actionable Plan to Reverse Course at Sylogist and Deliver Value for Shareholders at www.abettersylogist.com/plan
Outlines Conflicted PenderFund Agenda for Sylogist That Would Put Shareholder Equity at Serious Risk
Highlights Egregious Executive Compensation Despite Years of Dismal Underperformance
Files Proxy Circular Recommending Shareholders Vote FOR OneMove's Highly-Qualified, Independent Director Nominees and Company Nominee Andrew Shen, and WITHHOLD Votes on Company's Remaining Nominees
BRIDGETOWN, Barbados, April 22, 2026 /CNW/ -- OneMove Capital Ltd. ("OneMove"), the largest independent shareholder of Sylogist Ltd. (TSX: SYZ) ("Sylogist" or the "Company") owning approximately 15% of the Company's outstanding shares, today filed its information circular (the "Circular") containing its GOLD PROXY CARD in connection with the Annual and Special Meeting of Shareholders (the "Meeting") to be held on May 12, 2026.
OneMove urges Sylogist shareholders to vote FOR each of OneMove's highly-qualified, independent director nominees - Rhonda Bassett-Spiers, Mary Filippelli, Jonny Franklin-Adams, and Tyler Proud (together, the "OneMove Nominees") - on the GOLD PROXY CARD included in the Circular. OneMove also recommends shareholders vote FOR management nominee Andrew Shen, and to WITHHOLD their votes on the remaining Company Nominees.
In its circular, OneMove included a letter to Sylogist shareholders that presents the cause of the Company's severe underperformance as well as a clear and actionable plan to be executed by a refreshed Board with the right experience and alignment with shareholders. The letter includes:
- OneMove's clear and actionable plan to rapidly restore shareholder value through disciplined execution, cost rationalization and a focused strategic review, which is posted in more detail at www.abettersylogist.com/plan;
- As a result of failed oversight by the Board, Sylogist shareholders have been subject to a more than 75% decline in share price over the past five years, materially underperforming peers and broader markets;
- A desperate Board's sprawling 122-page proxy was filled with personal attacks, distortions and inaccuracies to deflect from their complete lack of a credible plan and refusal to accept accountability;
- Despite deploying more than $50 million of capital, the Company has realized no organic growth while operating performance has deteriorated, including declining revenue, collapsing EBITDA, and negative free cash flow;
- PenderFund, through its contractual Board nominee, has gained irresponsible influence over the Board while expressing an agenda that directly conflicts with shareholder interests;
- Despite dismal performance, under Tracy Edkins' Compensation Committee, average Named Executive Officer compensation increased by approximately 67% year-over-year while Q4 EBITDA declined by 68% over the same twelve-month period.
OneMove believes shareholders have a clear choice at the Meeting:
- Elect OneMove's highly-qualified and independent nominees who have the right experience, and shareholder alignment to execute on OneMove's actionable plan to turn the Company around; or
- Continue with the failed status quo oversight and execution of the incumbent Board, which has resulted in more than 75% value destruction over the past five years.
The full text of the letter can be found here.
The full Circular is available at www.abettersylogist.com and under Sylogist's profile on SEDAR+ at www.sedarplus.ca.
How to Vote
Shareholders are urged to vote FOR the OneMove Nominees and Company nominee Andrew Shen, and to WITHHOLD their votes on the remaining Company nominees using their GOLD PROXY CARD well in advance of the proxy voting deadline of May 7, 2026, at 5:00 PM MT.
Shareholders who have questions or need help voting should contact Carson Proxy, OneMove's proxy solicitor: 1-800-530-5189 Toll Free (Canada & the United States) 1-416-751-2066 (Local / Text) or at [email protected]
About OneMove Capital
OneMove Capital Ltd. is a private investment firm focused on small and mid-cap public companies where active engagement and governance improvements can unlock shareholder value. OneMove is an approximately 15% shareholder of Sylogist Ltd.
Forward-Looking Statements
Statements contained herein that are not historical facts constitute "forward-looking statements" and "forward-looking information" (together, "forward-looking statements") within the meaning of applicable securities laws that reflect OneMove's current expectations, assumptions, and estimates of future events, performance and economic conditions. Such forward-looking statements rely on the safe harbor provisions of applicable securities laws. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements and there can be no assurance that the Company's securities will trade at the prices that may be implied herein, and there can be no assurance that any opinion or assumption herein is, or will be proven, correct. Words and phrases such as "anticipate," "believe," "create," "drive," "expect," "forecast," "future," "growth," "intend," "hope," "opportunity," "plan," "confident," "restore," "reduce," "potential," "proposal," "unlock," "upside," "will," "would," and similar words and phrases are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements concerning: the timing of the annual and special meeting of the Company (the "Meeting"); the outcomes of the votes conducted at the Meeting; the anticipated outcomes from the actions taken and proposed to be taken by OneMove (including the timing thereof); the anticipated financial and operating performance of the Company; the Company's growth, cash flow, and operating margins; and the Company's go-forward strategy. Such forward-looking statements are not guarantees of future performance or actual results, and readers should not place undue reliance on any forward-looking statement as actual results may differ materially and adversely from forward-looking statements. All forward-looking statements contained herein are made only as of the date hereof, and OneMove disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which OneMove hereafter becomes aware, except as required by applicable law.
Investor Contact:
OneMove Capital Ltd.
Email: [email protected]
Website: www.abettersylogist.com
Media Contact
ASC Advisors
Taylor Ingraham / Steve Bruce
[email protected] / [email protected]
203 992 1230
SOURCE OneMove Capital Ltd.
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